Impact Of Coronavirus On Pharma Industry

World is suffering from an unprecedented health crisis in the form of deadly virus called Novel Coronavirus also known by the name called Covid-19. Novel Coronavirus has brought the world to an unforeseen health and economic down fall. Millions of productions units across the globe are completely wrecked by its grip. Which, in parallel has also impacted the livelihood of workers working at such units.

Economy analysts say,“The economy down fall due to corona virus is going to be worse than 2007-2008 financial crisis.”And speaking particularly of exhibition industry then here are few facts and figures, of which you can make an idea how bad trade show industry has been impacted:

• Approximately 32,000 exhibitors exhibits every year
• There is a combined spend of 137 billion dollar via exhibitor and visitors
• 5 million companies exhibits each year
• 6 million exhibitors are impacted
• 286 billion dollar loss in total
• 1,900,000 jobs lost in direct business events

Do You Know

We tend to believe that it shouldn’t be of any surprise for you to learn, pharmaceutical chemical manufacturing and production of finished-dose generic drugs is getting steadily moved to India and China as Western drug companies. Besides that, contract development and manufacturing organizations (CDMOs) incline to censor the costs and wash off their hands from the highly polluting chemicals used in making drugs.

So, would it be right to say that coronavirus pandemic is marking a re-balance with pharma industry by inclining the nation to recognize an imperativeness of medicines? Let’s further see how pharma trades show industry is getting impacted due to Covid-19.

Impact Of Corona-virus On Pharma Industry

We know how much pharmaceutical industry holds an invincible value across the world however; despite of being a valuable industry, Covid-19 has given the tough time to this industry as well by challenging to conduct its worldwide business activity i.e., trade shows. Few of the on-going and planned medical trials for various illnesses/diseases are being suspended because of which delay in the development of new medicines is witnessed. And because of that major pharma shows in USA and other conferences related to health care industry are getting adjourned or are already being cancelled.

Update On Leading Pharma (Medical & Healthcare) Shows In USA

• Bio International Convention: For 2020, Bio international convention trade show will be taking place over a virtual event format called BIO Digital on the pre-decided dates. There would be the virtual gathering to access the key partners via BIO One-on-One Partnering.
• FCE Pharma: FCE Pharma 2020 is said to take to be held on the same dates as of now- 7^th October 2020 – 8^th October 2020.
• CPhI Middle East & Africa: CPhI Middle East & Africa 2020 seek nor no plan to postpone or cancel the event and show dates remains to be 14^th September 2020 – 15^th September 2020.